Incomplete pass following muffed punt?

[breynolds]

Play: 4th and 10 from K's 35 yard line. K kicks a high, short punt that R muffs at K's 45 yard line. The ball rebounds behind the neutral zone where K recovers the ball and begins to advance. During the advance he throws an incomplete forward pass from behind the neutral zone.

Ignore for the moment the likelihood that A(K) will have one or probably more ineligible linemen downfield. Which team will be awarded a new series? Where is the succeeding spot? (NFHS code)

I am interested to hear your thoughts. Although this play is highly unusual, I think it would be a good addition to case book play 5.1.3 Situation C.